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News release

ST. LOUIS, MO

JLL named as office/industrial marketing agent for 1,500-acre Northside St. Louis ‘regeneration’ project


ST. LOUIS, April 28, 2014 — St. Louis-based developer McEagle Properties has enlisted yet another significant strategic partner in its efforts to redevelop and revitalize a 1,500-acre area just north of Downtown St. Louis.

JLL, the industry-leading commercial real estate brokerage with offices in more than 50 U.S. cites and some 70 countries around the globe, will serve as the exclusive sales and leasing agent for the office and industrial components of the project, which is known as Northside St. Louis Regeneration.

JLL will look to tap into its extensive client network --- which includes some of the world’s largest corporations --- to identify potential development partners for the project.

Fueled by the vision of developer and McEagle founder Paul J. McKee Jr., his wife, Midge McKee, and a public-private partnership with the city of St. Louis, the regenerated Northside will eventually include residential, retail, office, and industrial components as well as an abundance of parks and open space — all designed to increase economic opportunity and improve quality-of-life for local residents.

With a $390 million TIF in place for a complete infrastructure remake, this area is uniquely positioned to implement the new energy, transportation and green technologies that have been anxiously anticipated. 

The development will eventually offer 3.5 million square feet of office space; 1 million square feet of business and technical space; 2 million square feet of retail; 3,000 new residential units and 240 hotel rooms. In addition, more than 50,000 new jobs ─ including approximately 22,000 new permanent jobs ─ will be created.

The Northside project has already received national attention as a shining example of the new American “smart city.”   Shaun Donovan, U.S. Secretary of Housing & Urban Development, said the project “has the correct ingredients for rebuilding the urban core of U.S. cities.”

Northside has also been designated as part of the White House’s Strong Cities/Strong Community program. Accordingly, project leaders will have access to government staff who will help guide them through the many federal programs and opportunities in an effort to build clean, renewable smart energy and healthy environment for its residents and business community.

“Our JLL team shares in Paul McKee’s vision for what the Northside neighborhood can become,” said Lynn Schenck, Managing Director of JLL’s St. Louis office, who is leading the office/industrial marketing efforts along with JLL Executive Vice President David Steinbach.

“We are excited to spread the word far and wide about the significant opportunities that exist here.”

A variety of shovel-ready sites ranging from 1 to 70 acres are available for build-to-suit projects, which can leverage a $390 million tax-increment financing (TIF) district approved by the city of St. Louis. State and federal economic incentives are also available.
According to McEagle Properties’ Glenn Mitchell, success starts with and is sustained by creating the ideal business environment.

“We're creating a remarkable business environment here, he said. “unmatched incentives, tremendous opportunity for operating efficiencies and the chance to have positive social impact that can stretch across generations.”

Visit the Northside Regeneration website for more information.​